Capitalworks Emerging Markets Acquisition in a proxy filing called a Feb. 26 meeting for shareholders to vote on an extension proposal that would give the SPAC up to March 2025 to complete a deal.
Capitalworks has a merger agreement with reinsurance and digital insurance provider Lexasure Financial Group, announced last March at a pre-money equity value of $250 million.
The SPAC held approximately $46.77 million in trust as of Jan. 24, according to the proxy. Capitalworks had raised $230 million in a December 2021 IPO. Read more.
